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Supermarket to cut fuel prices
Asda has pledged to cut up to 3p a litre off the price of both unleaded and diesel
Supermarket customers are set to benefit from lower fuel costs after one of the country's biggest supermarkets announced price cuts.
Asda, Britain's second-biggest supermarket, pledged to cut up to 3p a litre off the price of both unleaded and diesel and cap prices at 135.7p for unleaded and 139.7p for diesel.
Morrisons shortly followed suit and said it will reduce its pump prices by up to 3p per litre from Tuesday morning in every area that it trades.
The country's biggest supermarket Tesco later announced its own price cut.
A spokesman said: "Tesco is dropping fuel prices by up to 3p per litre. As Britain's biggest petrol retailer with 490 forecourts, more motorists will make savings at the pumps at Tesco than at any other fuel retailer."
The cost of oil has fallen in the past 10 days with Brent crude in London sliding 6% to around 110 US dollars a barrel - although this is still 25% higher than in mid-June.
Earlier this year, the Office of Fair Trading (OFT) launched a review into whether reductions in the price of crude oil are being passed on to motorists.
It said it will explore a number of claims about how the road fuels sector is functioning, including whether supermarkets and major oil companies are making it more difficult for independent retailers to compete.
Many economists have warned that the rate of inflation is not likely to fall as rapidly as forecast by the Bank of England in the months ahead due to pressure from oil prices.
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lowering fuel prices!!! in the last few weeks the price of fuel has gone up more than the 3p it plans to reduce it by, so therefore they have already conned us into believing were better off...........its all just a rip off
The people of this country could bring the whole lot down by lets say... Stop drinking, smoking and driving cars and it would take about 6 months before the Gov were putting out reports that really it is alright to drink and smoke like a mad thing while driving your 4 wheel drive. The British public pays for the Muppets in Whitehall (any of the parties) to squander taxes on wars foreign aid etc.
Poor old Tesco, being forced to drop their prices again. What a shame. Has no one noticed they are always more expensive than anyone else if they dont need to be competitive. At least Asda make a blanket price cut across the whole country irrespective of local competition.
Why do so many poor suckers get taken in by Tesco club points thinking they are getting a good deal.
Wake up people, you are being conned.
what a load of rubi**** only cause OFT r looking into there actions, & 3p woopy do let me book my holis to mexico on the savings, its rose more then that in the last 3 weeks
Oh wow, I stand to save £1.50 on a tank, I've had £300 raise in my wages over the past 4 years, my rent has gone up, council tax up, water up, electricity/Gas up and VAT up so I can tell you now, that £300 hasn't even met the rises I have sustained this year alone.
I'm just watching that ginger minger Danny Alexander, what a feckin knob, just like that other **** Nick Clegg and the tory counterparts!
Is it any surprise its is announced NOW?, like every other sudden drop in petrol prices it is shortly to be followed by "The Bodjit", ooops sorry "The Budget", when guess what?, the Chancellor will add a few more pence to a litre due to the recent reduction in world oil prices... Everything is connected!!!
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